Lilis Energy, Inc.

Officers & Directors

Abraham Mirman: Chief Executive Officer, Director. Mr. Mirman joined our Board
of Directors (the “Board” or the “Board of Directors”)
on September 12, 2014. He currently serves as our Chief Executive Officer and
has held that position since April 21, 2014. Prior to being appointed to his current
position of Chief Executive Officer, Mr. Mirman served as our President beginning
in September 2013. During that same time, from April 2013 until September 2014,
Mr. Mirman served as the Managing Director, Investment Banking at T.R. Winston
& Company, LLC (“TRW”). Between 2012 and February 2013, Mr. Mirman
served as Head of Investment Banking at John Thomas Financial. From 2011 to 2012,
Mr. Mirman served as Head of Investment Banking at BMA Securities. Lastly, from
2006 to 2011, Mr. Mirman served as Chairman of the Board of Cresta Capital Strategies
LLC. During Mr. Mirman’s service as Chief Executive Officer, we have completed
several significant capital raising transactions and negotiated a final settlement
with its senior secured lender.

Ronald D. Ormand: Executive Chairman of the Board of Directors. Mr. Ormand
joined Lilis’s Board of Directors in February, 2015, bringing with him
more than 33 years of experience as a senior executive and investment banker
in energy, including extensive financing and mergers and acquisitions expertise
in the oil and gas industry. During his career, he has completed more than $25
billion of capital markets and financial advisory transactions, both as a principal
and as a banker. Prior to joining Lilis, Mr. Ormand served as the Chairman and
Head of the Investment Banking Group at MLV & Co. (“MLV”), which
is now owned by FBR & Co., after it acquired MLV in September of 2015. After
the acquisition, Mr. Ormand served as Senior Managing Director and Senior Advisor
at FBR & Co. until May 2016, where he focused on investment banking and
principal investments in the energy sector. Prior to joining MLV in November
2013, from 2009 to 2013, Mr. Ormand was a senior executive at Magnum Hunter
Resources Corporation, or MHR (NYSE:MHR), an exploration and production company
engaged in unconventional resource plays, as well as midstream and oilfield
services operations. He was part of the management team that took over prior
management and grew MHR from approximately $35 million enterprise value to over
$2.5 billion enterprise value at the time he left in 2013. Mr. Ormand served
on the Board of Directors and in several senior management positions for MHR,
including Executive Vice President, Chief Financial Officer and Executive Vice
President of Capital Markets. On March 10, 2016, in connection with his prior
position as Chief Financial Officer of MHR, Mr. Ormand, without admitting or
denying any of the allegations, settled with the SEC in connection with an investigation
of MHR’s books and records and internal controls for financial reporting.
Specifically, Mr. Ormand agreed to cease and desist from violating Sections
13(a) and 13(b)(2)(A) and (B) of the Exchange Act and Rules 13a-1, 13a-13 and
13-15(a) thereunder. He has also paid a penalty of $25,000. The SEC did not
allege any anti-fraud violations, intentional misrepresentations or willful
conduct on the part of Mr. Ormand. Mr. Ormand’s career includes serving
as Managing Director and Group Head of U.S. Oil and Gas Investment Banking at
CIBC World Markets and Oppenheimer (1988-2004); Head Of North American Oil and
Gas Investment Banking at West LB A.G. (2005-2007), and President and CFO of
Tremisis Energy Acquisition Corp. II, an energy special purpose acquisition
company from 2007-2009. Mr. Ormand has previously served as a Director of Greenhunter
Resources, Inc. (2011-2013), Tremisis (2007-2009), and Eureka Hunter Holdings,
Inc., a private midstream company (2010-2013). Mr. Ormand holds a B.A. in Economics,
an M.B.A. in Finance and Accounting from UCLA and studied Economics at Cambridge
University, England.

Director Qualifications:

· Leadership Experience - Senior executive at Magnum Hunter Resources
Corporation, Chairman and Head of Investment Banking at MLV and Head of US Oil
and Gas for CIBC and investment banker.
· Industry Experience - Extensive experience in oil and gas development
and services industries at the entities and in the capacities described above

Nuno Brandolini: Director. Mr. Brandolini joined our Board of Directors in
February 2014, and became Chairman in April 2014. On January 13, 2016, Mr. Brandolini
was replaced as Chairman of our Board of Directors by Ronald D. Ormand. Mr.
Brandolini served as a member of the general partner of Scorpion Capital Partners,
L.P., a private equity firm organized as a small business investment company
until June 2014. Prior to forming Scorpion Capital and its predecessor firm,
Scorpion Holding, Inc., in 1995, Mr. Brandolini served as managing director
of Rosecliff, Inc., a leveraged buyout fund co-founded by Mr. Brandolini in
1993. Mr. Brandolini served previously as a vice president in the investment
banking department of Salomon Brothers, Inc., and a principal with the Batheus
Group and Logic Capital, two venture capital firms. Mr. Brandolini began his
career as an investment banker with Lazard Freres & Co. Mr. Brandolini is
a director of Cheniere Energy, Inc. (NYSE MKT: LNG), a Houston-based company
primarily engaged in LNG related businesses. Mr. Brandolini received a law degree
from the University of Paris and an M.B.A. from the Wharton School.